What is Tasa Única (Annual Franchise Tax)?
The tasa única is a flat annual corporate franchise tax of US$300 owed by every Panamanian corporation and private interest foundation. It is paid to the Registro Público, not the DGI, and it is not an income tax.
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Current Rate (Due 15 July if incorporated January to June, 15 January if incorporated July to December)
US$300 a year
Example
A company incorporated in March pays by 15 July each year. A company incorporated in October pays by 15 January each year.
How Tasa Única (Annual Franchise Tax) works in Panama
The tasa única is a registry-maintenance fee. It must never be confused with ISR, which is a different tax, paid to a different body, on a different calendar.
Late payment carries a US$50 a year penalty, rising to US$300 a year after a second missed deadline period. Non-payment also stops the Registro Público from processing changes to the entity or issuing a certificate of good standing, which can hold up bank, contract and tender work.
The due date depends on the incorporation month, so the date Finn seeds is a placeholder until you confirm your incorporation date.
Related terms
The S. de R.L. is Panama's LLC-equivalent, with no minimum capital requirement and managed by one or more gerentes (managers). It is the common choice for small and medium businesses.
Impuesto Sobre la Renta (ISR) is Panama's corporate income tax. It is a flat 25% on net taxable Panama-source income for resident companies such as the S. de R.L. and the S.A.
The RUC is Panama's primary tax identifier for both individuals and companies, issued by the DGI. It appears on invoices and on ITBMS and income tax filings.
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